US Auto employees agree to work at below par wages
"In the auto industry, for example, the major companies are in the process of increasing the number of employees at their plants who work for $14 an hour, as opposed to the average $28 an hour previously earned by workers at these enterprises. They are doing so with the active support of the trade unions." (view story)
Two-tier wage system in US auto industry
"Nothing distinguishes them from other workers at the Jefferson North plant, except their paychecks. The newest workers earn about $14 an hour; longtime employees earn double that.
With the economy slumping and job creation once again a pressing issue in the White House and Congress, the advent of a two-tier wage system in Detroit is spiking employment for one of the country’s most important manufacturing industries." (View Story)
India reacts less to inflation as income rises
"More broadly, though, I sense that for all the sound and fury, the political tolerance for a period of high inflation has risen. I suspect this is to do with the fact that earlier episodes of high inflation in India occurred in an economy where income per head rose very sluggishly indeed. Now, with real rates of economic growth near 9%, and slower population growth than before, real incomes are rising fast enough that people are willing to put up with high inflation for some time." (The Economist)
"In the auto industry, for example, the major companies are in the process of increasing the number of employees at their plants who work for $14 an hour, as opposed to the average $28 an hour previously earned by workers at these enterprises. They are doing so with the active support of the trade unions." (view story)
Two-tier wage system in US auto industry
"Nothing distinguishes them from other workers at the Jefferson North plant, except their paychecks. The newest workers earn about $14 an hour; longtime employees earn double that.
With the economy slumping and job creation once again a pressing issue in the White House and Congress, the advent of a two-tier wage system in Detroit is spiking employment for one of the country’s most important manufacturing industries." (View Story)
India reacts less to inflation as income rises
"More broadly, though, I sense that for all the sound and fury, the political tolerance for a period of high inflation has risen. I suspect this is to do with the fact that earlier episodes of high inflation in India occurred in an economy where income per head rose very sluggishly indeed. Now, with real rates of economic growth near 9%, and slower population growth than before, real incomes are rising fast enough that people are willing to put up with high inflation for some time." (The Economist)
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